QIBs portion of Coal India IPO subscribed 24.70 times

The Initial Public Offering (IPO) of Coal India Limited which closed for subscription on October 21, 2010 has received overwhelming response with subscription of 15.28 times.

The company came out with Public offer of 631,636,440 equity shares of face value of Rs. 10 each at a price band of Rs 225 to Rs 245 through 100% book building process.

The IPO received total bids for 9650277325 equity shares against the offer of 631636440 equity shares resulting in a subscription of 15.28 times.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 7019464125 equity shares against the offer of 284236398 equity shares resulting in a subscription of 24.70 times.

Under QIBs portion, Foreign Institutional Investors (FIIs) heavily subscribed with bids for 4933872050 equity shares or 17.36 times the offerred shares.

Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) bid for 1807527975 equity shares or 6.36 times the offerred shares.

Mutual Funds subscribed for 266896250 equity shares and others subscribed for 11167850 equity shares.

Source : Equity Bulls

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